Sources: U.S. Concrete Inc., Euless, Texas; CP staff
U.S. Concrete has strengthened sand production and distribution capacity supporting its New York City ready mixed concrete operations by acquiring the assets of Quinton, N.J.-based Corbett Aggregates Cos.
"The acquisition meets our strategic objective of increasing internal aggregates sourcing in an area with quickly depleting fine aggregates resources," says U.S. Concrete CEO Bill Sandbrook. “The ability to ship concrete sand to our metropolitan New York City markets by water is another benefit as trucking becomes ever more expensive due to traffic congestion and increasing bridge tolls. This acquisition will have an immediate positive impact on our operating results."
Corbett Aggregates’ 400-acre site has 35 million-plus tons of proven reserves of concrete sand. In connection with the asset deal, U.S. Concrete was assigned a long-term lease with the South Jersey Port Corp. for an export dock located approximately six miles from the aggregates operation, as well as the exclusive right to move coarse and fine aggregates through the North Shore Terminal on Staten Island, N.Y. The company will use its metro New York aggregates import docks, operated by wholly-owned subsidiary New York Sand and Stone, for sand distribution. The ability to move aggregates by barge reduces dependency on third-party suppliers and helps alleviate metropolitan traffic congestion by taking trucks off an overused road network.